The global digital therapeutics market reached a value of US$ 4.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting a CAGR of 21.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Digital therapeutics (DTx) deliver evidence-based therapeutic interventions to patients. They aid in enhancing the existing medical treatments, providing therapy solutions, and reducing reliance on pharmaceuticals using high-quality software programs. They also prevent, manage and treat physical, mental, and behavioral health and find application in diagnosing conditions like Alzheimer's disease, type II diabetes, and respiratory disorders, such as asthma, gastrointestinal problems, and chronic obstructive pulmonary disease. At present, there is a significant rise in the demand for DTx as they reduce health care costs and support the overall health of patients.
Digital Therapeutics Market Trends:
- The boosting sales of smart devices like mobile phones and tablets, rising internet penetration and the increasing number of healthcare applications are among the major factors strengthening the growth of the market. DTx finds application in a diverse range of neuroscience indications, such as autism spectrum disorder (ASD), attention deficit hyperactivity disorder (ADHD), depression, schizophrenia, and bipolar disease. Additionally, the rising prevalence of chronic diseases like diabetes and obesity, along with the increasing need for controlling costs of healthcare treatments, are supporting the growth of the market. Furthermore, pharmaceutical companies around the world are investing and engaging in strategic partnerships to expand their product portfolio and market reach. They are also focusing on providing patients with information concerning different conditions and subsequent treatments as well as organizing, tracking, and self-managing their diseases. These initiatives undertaken by pharmaceutical companies are anticipated to impel the growth of the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global digital therapeutics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on application and end use.
Breakup by Application:
- CNS Disease
- Respiratory Diseases
- Smoking Cessation
Breakup by End Use:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being 2Morrow Inc., Canary Health Inc., Click Therapeutics Inc., Mango Health Inc. (TrialCard Incorporated), Noom Health Inc., Omada Health Inc., Pear Therapeutics, Inc., Propeller Health (ResMed), Teladoc Health Inc., Voluntis Inc. and WellDoc Inc.
- Key Questions Answered in This Report
- 1. What was the size of the global digital therapeutics market in 2021?
- 2. What is the expected growth rate of the global digital therapeutics market during 2022-2027?
- 3. What are the key factors driving the global digital therapeutics market?
- 4. What has been the impact of COVID-19 on the global digital therapeutics market?
- 5. What is the breakup of the global digital therapeutics market based on the application?
- 6. What is the breakup of the global digital therapeutics market based on the end use?
- 7. What are the key regions in the global digital therapeutics market?
- 8. Who are the key players/companies in the global digital therapeutics market?